Math 1140 - Introduction to Statistics » Fall 2021 » Quiz 3 Sec 5.1

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Question #1
The probabilities that a batch of 4 computers will contain 0, 1, 2, 3, and 4 defective computers are 0.6274, 0.3102, 0.0575, 0.0047, and 0.0001, respectively. Find the standard deviation for the probability distribution.
A.   σ = 0.56
B.   σ = 0.63
C.   σ = 0.76
D.   σ = 0.39
Question #2
Provide an appropriate response. In a game, you have a 1/36 probability of winning $85 and a 35/36 probability of losing $4 What is your expected value?
A.   $6.25
B.   -$1.53
C.   -$3.89
D.   $2.36
Question #3
Provide an appropriate response. A 28-year-old man pays $181 for a one-year life insurance policy with coverage of $150,000. If the probability that he will live through the year is 0.9994, what is the expected value for the insurance policy?
A.   $149,910.00
B.   -$91.00
C.   $90.00
D.   -$180.89
Question #4
Find the mean of the given probability distribution. The probabilities that a batch of 4 computers will contain 0, 1, 2, 3, and 4 defective computers are 0.4096, 0.4096, 0.1536, 0.0256, and 0.0016, respectively. Round answer to the nearest hundredth.
A.   μ = 0.70
B.   μ = 2.00
C.   μ = 1.21
D.   μ = 0.80

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